Tax Solutions: Options to Resolve Unpaid Taxes
Dealing with unpaid taxes can be scary and overwhelming. But don’t worry. The IRS has a lot of programs to help taxpayers who’ve fallen behind or who can’t afford to pay. Here are the main IRS tax solutions and links to pages with more information.
Regardless of what’s happening or how much you owe, we can help you find the best solution for your tax situation. To get help, contact us at The W Tax Group today.
Currently Not Collectible
If you cannot afford to pay your tax liability, the IRS may agree to label your account as currently not collectible. Also called hardship status, this program is only available to taxpayers who have very limited income and assets. Learn more about how currently not collectible works.
Back Taxes Help
There are all kinds of ways to pay off your back taxes. Individuals and businesses both have a variety of funding options they can use to pay back taxes. If you cannot find a way to pay off your back taxes in full, we can help you negotiate an arrangement with the IRS. Learn more about how we can help with back taxes.
Innocent Spouse Relief
Normally, when you file a tax return as married filing jointly, you and your spouse are jointly liable for the tax bill. But in certain situations — for instance, if you didn’t know about the tax issue and had no reason to know — you may qualify for relief for innocent spouses. Find out more about innocent spouse relief.
IRS Fresh Start Program
The Fresh Start Program consists of several tax resolution programs that the IRS developed to help taxpayers. As implied by the name, these programs help you resolve your tax liability so that you can get a fresh start with the IRS. Check out the Fresh Start Program options and start deciding which path might be right for you.
IRS Installment Agreement
An IRS installment agreement is when the IRS agrees to let you pay off your tax liability in monthly payments. Depending on how much you owe and how much you can afford to pay, your installment agreement may be automatically approved. In other cases, you may need to provide detailed financial details or set up direct debits for monthly payments. Learn more about installment agreements now.
Offer in Compromise
An offer in compromise is when the IRS agrees to let you pay off your tax bill for less than you owe. This program can be difficult to qualify for, but if you meet the criteria, it can save you a significant amount of money. Check out more details on the offer-in-compromise program.
Partial Payment Installment Agreement
A partial payment installment agreement is a hybrid between the installment agreement and the offer in compromise. You make monthly payments until the collection statute expires on your tax bill. Then, the IRS agrees to waive the remaining balance. Learn more about partial payment installment agreements.
The IRS often removes or abates penalties, especially for first-time offenses. But you must apply for abatement. Typically, the IRS doesn’t waive penalties unless you ask. Take a look at the details about IRS penalty abatement.
IRS Tax Appeals
If you don’t agree with an IRS decision, you have the right to an appeal. The IRS will generally send you a notice that outlines your right to an appeal. This guide on IRS tax appeals will go through the various reasons you can consider filing an appeal and how to file one.
Why Use an IRS Lawyer
An IRS tax lawyer can help you deal with the IRS. They can help you identify the best tax solution for your situation and negotiate the best possible outcome with the IRS. Learn more about when and why you should use an IRS tax lawyer.
To learn more about IRS tax solutions, contact us at The W Tax Group today. We will start by learning more about your situation, and then, we’ll help you find the best solution and negotiate arrangements with the IRS.